Fiduciary Alliance LLC Buys 7,283 Shares of Crown Castle Inc. (NYSE:CCI)

Fiduciary Alliance LLC lifted its position in shares of Crown Castle Inc. (NYSE:CCI) by 9.1% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 87,711 shares of the real estate investment trust’s stock after buying an additional 7,283 shares during the quarter. Crown Castle makes up 1.6% of Fiduciary Alliance LLC’s holdings, making the stock its 16th largest holding. Fiduciary Alliance LLC’s holdings in Crown Castle were worth $9,145,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. O Shaughnessy Asset Management LLC lifted its position in shares of Crown Castle by 93.5% during the third quarter. O Shaughnessy Asset Management LLC now owns 17,099 shares of the real estate investment trust’s stock worth $1,574,000 after purchasing an additional 8,263 shares during the last quarter. Bank of Nova Scotia boosted its holdings in shares of Crown Castle by 13.6% in the 3rd quarter. Bank of Nova Scotia now owns 41,233 shares of the real estate investment trust’s stock valued at $3,795,000 after acquiring an additional 4,937 shares during the last quarter. Ancora Advisors LLC lifted its holdings in shares of Crown Castle by 62.8% in the 3rd quarter. Ancora Advisors LLC now owns 7,682 shares of the real estate investment trust’s stock valued at $707,000 after buying an additional 2,964 shares during the period. Ironwood Investment Counsel LLC increased its holdings in shares of Crown Castle by 18.7% during the 3rd quarter. Ironwood Investment Counsel LLC now owns 11,675 shares of the real estate investment trust’s stock valued at $1,074,000 after purchasing an additional 1,840 shares in the last quarter. Finally, Fred Alger Management LLC raised its position in shares of Crown Castle by 37.7% in the third quarter. Fred Alger Management LLC now owns 44,167 shares of the real estate investment trust’s stock worth $4,065,000 after acquiring an additional 12,092 shares during the period. Institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CCI shares. Argus lowered Crown Castle from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Deutsche Bank Aktiengesellschaft cut their target price on Crown Castle from $110.00 to $109.00 and set a “hold” rating on the stock in a research report on Monday, April 22nd. Bank of America lowered their price objective on shares of Crown Castle from $120.00 to $105.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. BMO Capital Markets decreased their price target on Crown Castle from $110.00 to $105.00 and set a “market perform” rating for the company in a report on Thursday, April 18th. Finally, Jefferies Financial Group dropped their price objective on Crown Castle from $126.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Eleven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Crown Castle currently has a consensus rating of “Hold” and a consensus price target of $114.21.

Crown Castle Stock Up 0.3 %

Crown Castle stock traded up $0.31 during trading on Friday, hitting $97.70. 9,395,095 shares of the company were exchanged, compared to its average volume of 2,492,467. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 3.73. The business’s 50 day moving average is $98.42 and its 200 day moving average is $104.67. Crown Castle Inc. has a 52 week low of $84.72 and a 52 week high of $119.50. The company has a market capitalization of $42.45 billion, a P/E ratio of 30.53, a PEG ratio of 2.59 and a beta of 0.82.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.92). Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period last year, the company posted $1.91 EPS. The business’s revenue for the quarter was down 7.4% on a year-over-year basis. Analysts predict that Crown Castle Inc. will post 6.62 earnings per share for the current year.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 6.41%. The ex-dividend date of this dividend was Friday, June 14th. Crown Castle’s dividend payout ratio (DPR) is currently 195.63%.

About Crown Castle

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service – bringing information, ideas and innovations to the people and businesses that need them.